Truist Financial Corp Cuts Stock Position in Progyny, Inc. (NASDAQ:PGNY)

Truist Financial Corp lowered its holdings in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 29.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,993 shares of the company's stock after selling 26,764 shares during the period. Truist Financial Corp owned approximately 0.07% of Progyny worth $2,416,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PGNY. International Assets Investment Management LLC raised its holdings in Progyny by 352,414.2% during the 4th quarter. International Assets Investment Management LLC now owns 5,876,411 shares of the company's stock valued at $218,485,000 after acquiring an additional 5,874,744 shares during the period. Vanguard Group Inc. raised its stake in shares of Progyny by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,157,604 shares of the company's stock valued at $277,522,000 after purchasing an additional 565,160 shares during the period. Jennison Associates LLC lifted its holdings in Progyny by 19.4% during the 3rd quarter. Jennison Associates LLC now owns 2,706,454 shares of the company's stock worth $92,074,000 after purchasing an additional 438,932 shares in the last quarter. Invesco Ltd. boosted its stake in Progyny by 67.0% in the 3rd quarter. Invesco Ltd. now owns 888,427 shares of the company's stock worth $30,224,000 after purchasing an additional 356,529 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Progyny by 58.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 688,020 shares of the company's stock valued at $25,581,000 after buying an additional 252,910 shares in the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Progyny

In other Progyny news, Chairman David J. Schlanger sold 5,826 shares of Progyny stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.74, for a total value of $219,873.24. Following the transaction, the chairman now directly owns 86,312 shares of the company's stock, valued at approximately $3,257,414.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Mark S. Livingston sold 11,165 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.62, for a total value of $420,027.30. Following the sale, the chief financial officer now directly owns 50,119 shares of the company's stock, valued at $1,885,476.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David J. Schlanger sold 5,826 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $37.74, for a total value of $219,873.24. Following the transaction, the chairman now directly owns 86,312 shares of the company's stock, valued at approximately $3,257,414.88. The disclosure for this sale can be found here. Insiders sold 102,770 shares of company stock worth $3,853,985 in the last ninety days. 12.30% of the stock is owned by company insiders.

Progyny Price Performance

NASDAQ PGNY traded up $0.34 on Thursday, reaching $32.50. 1,646,876 shares of the company's stock traded hands, compared to its average volume of 800,912. The stock has a market cap of $3.12 billion, a PE ratio of 52.42, a P/E/G ratio of 1.31 and a beta of 1.51. Progyny, Inc. has a 12 month low of $29.44 and a 12 month high of $44.95. The stock has a 50-day simple moving average of $34.67 and a 200 day simple moving average of $35.59.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.04. Progyny had a net margin of 5.70% and a return on equity of 12.64%. The company had revenue of $269.94 million for the quarter, compared to analysts' expectations of $274.08 million. During the same quarter last year, the company earned $0.03 EPS. The firm's revenue was up 26.0% compared to the same quarter last year. As a group, analysts anticipate that Progyny, Inc. will post 0.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PGNY shares. Truist Financial reissued a "buy" rating and issued a $46.00 price target on shares of Progyny in a report on Wednesday, April 17th. SVB Leerink assumed coverage on shares of Progyny in a research report on Monday, February 26th. They set an "outperform" rating and a $49.00 price target for the company. KeyCorp lowered their price objective on Progyny from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $48.00 price objective on shares of Progyny in a research report on Wednesday, February 28th. Finally, Leerink Partnrs reiterated an "outperform" rating on shares of Progyny in a research report on Monday, February 26th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Progyny presently has an average rating of "Buy" and an average price target of $48.30.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.